Will Bitcoin Reach $10,000 One Day?

[gla22]

Yeah bitcoin will continue to rise relative to fiat currencies that are victim to inflation, however the rapid rise in bitcoin value currently is caused by speculation and wider adoption. I can't forsee the bitcoin marketcap exceeding 1 trillion USD in 2013 dollars. (value of all gold in the world is 8 trillion in 2013 dollars). I think bitcoin could rise to a max of maybe around $10,000 USD/BTC in 2013 dollars and then start to slowly increase at the rate of inflation. There is no way 1 BTC =  100,000 USD or even $50,000 in our lifetimes.

[mds_crypt]

I think it has to reach 10k! Or at least, some crypto currency does.

The potential for trade through stores is just soooo great. And it's beginning. Once it hits, and there's a "quick setup" for vendors and consumers alike, bitcoin will move through the 10k mark.

I'd love to see 10k by 2015, but that seems pretty optimistic, given the likelihood of a few setbacks, which are just nice cushy entry points.

100k? In our lifetimes?

I wouldn't be shocked if it was. Given it's potential to hit 600+B in market cap, 100k BTC/USD is not a stretch.

[repairguy]

Yeah bitcoin will continue to rise relative to fiat currencies that are victim to inflation, however the rapid rise in bitcoin value currently is caused by speculation and wider adoption. I can't forsee the bitcoin marketcap exceeding 1 trillion USD in 2013 dollars. (value of all gold in the world is 8 trillion in 2013 dollars). I think bitcoin could rise to a max of maybe around $10,000 USD/BTC in 2013 dollars and then start to slowly increase at the rate of inflation. There is no way 1 BTC =  100,000 USD or even $50,000 in our lifetimes.

In 2013 Dollars, probably not, but in the future in future dollars maybe.

[azguard]

BTC star crashing last night but this morning gone up again seem that 1k is the for now until christmas and new year then it can go higher maybe 1.5k

[orzacton]

If Bitcoin continues to be accepted by merchants and people and as long as governments don't do anything to make it hard for citizens to buy Bitcoin, then it seems impossible for it not to get that high eventually.  If Bitcoin ever becomes the sole currency of the world then combine the amount of wealth available on the Earth in all the different currencies, then divide it by 21 Million and you'll have a rough estimate of how much a Bitcoin should be worth in the very long term.

[sbfree]

At the current coin supply wouldn't the market cap need to hit $120,000,000,000 to hit 10,000 a coin? That's a big number.. 

funny,  but APPLE alone, has $150,000,000,000 in CASH in offshore accounts....so no, not really

[pand70]

BTC star crashing last night but this morning gone up again seem that 1k is the for now until christmas and new year then it can go higher maybe 1.5k

The price means nothing. 1k means nothing if someone sells 1000btc price will go down 100$. Stop looking at price alone and start checking market depth.

[willpower101]

Can someone explain to me the hype going on in this thread? It seems incredibly unrealistic for BTC to go much above 1k even in the next year! But people are hoping for 4-5k by the end of 2014? Come on!?

This reminds me of the exact same crap that goes on in the penny stock forums. People with money make accounts to pump up the hype on penny stocks, and then when noone suspects it they sell 10MM worth at once and swipe everyone's savings in a heartbeat.

I just don't see how everyone here can realistically be buying into this and not fearing for their cash.

On a second note: This is EXACTLY why I've always said mining is a safer investment. You have a machine that generates BTC and is a liquidable asset in and of itself! If btc crashes from 1000 to 400 tomorrow the miners won't loose much money, but the investors who jumped in at 900 will lose a LOT to the savvy ones to pushed them off that cliff.

Honestly I think bitcoin may crash soon. As soon as th price dips a bit people will start pulling out their money and cause it to lose value quickly but I doubt it'll dip below $200 . I'm just here for the ride :p

Only one of two reasonable posts I've seen in this thread.

BTC star crashing last night but this morning gone up again seem that 1k is the for now until christmas and new year then it can go higher maybe 1.5k

The price means nothing. 1k means nothing if someone sells 1000btc price will go down 100$. Stop looking at price alone and start checking market depth.

Care to elaborate on the btc market depth?
Selling 1000btc at a time seems all to easy for the large companies. If the market depth is really that freaking shallow that a $1mil sell can cause a $100 swing in value, then btc is scary risky. That means a coordinated effort, (or even one investor with mtgox) could direct the entire market pretty easily.

[toy4lov3rs]

Can someone explain to me the hype going on in this thread? It seems incredibly unrealistic for BTC to go much above 1k even in the next year! But people are hoping for 4-5k by the end of 2014? Come on!?

This reminds me of the exact same crap that goes on in the penny stock forums. People with money make accounts to pump up the hype on penny stocks, and then when noone suspects it they sell 10MM worth at once and swipe everyone's savings in a heartbeat.

I just don't see how everyone here can realistically be buying into this and not fearing for their cash.

Look at previous year price increase %, nothing unusual if price hits 10k next year.
About the penny stock, Bitcoin is worldwide payment processing technology with a lot of money in this business, and much cheaper/faster/safer than western union or paypal.

[Lewis2]

BTC star crashing last night but this morning gone up again seem that 1k is the for now until christmas and new year then it can go higher maybe 1.5k

The price means nothing. 1k means nothing if someone sells 1000btc price will go down 100$. Stop looking at price alone and start checking market depth.

Nah man trade volume is to high, nee much more than 1000 btc to crash the market like that.

[destikim]

i think its posible but it have to reach 3k first before that

[Holdaaja]

BTC star crashing last night but this morning gone up again seem that 1k is the for now until christmas and new year then it can go higher maybe 1.5k

The price means nothing. 1k means nothing if someone sells 1000btc price will go down 100$. Stop looking at price alone and start checking market depth.

Nah man trade volume is to high, nee much more than 1000 btc to crash the market like that.

Someone need sell 5300BTC and it drop from 1190$ to 1060$.
You can look at it yourself here http://bitcoinity.org/markets/mtgox/USD

[ressie]

it will happen before that look at litecoin

[tinus42]

BTC star crashing last night but this morning gone up again seem that 1k is the for now until christmas and new year then it can go higher maybe 1.5k

The price means nothing. 1k means nothing if someone sells 1000btc price will go down 100$. Stop looking at price alone and start checking market depth.

Nah man trade volume is to high, nee much more than 1000 btc to crash the market like that.

Imagine someone who mined 100,000 btc in '09 as a hobby then forgot about Bitcoin and only now with all the media attention they would think of it again. They don't know anything about markets and dump the entire amount on Gox and sell it in one go. What would that do to the price?

[600watt]

c'm on, that´s just another 10-fold.

e a s y.

w i t h  t h e  g r a c e  o f  a  m o z a r t  c o n c e r t o.

[blacksails]

I would not be surprised if it happened 2014. But it's hard to know how the price will change.

[emilia79]

will not happen.

The value is stuck between 1000$ and 6600 Yuans. Each day it fluctuates, evolves between those two levels.

Also 1000$ can be 'easily'  spent, can be a part a your wages, but 10000 $ it too much.

[blacksails]

will not happen.

The value is stuck between 1000$ and 6600 Yuans. Each day it fluctuates, evolves between those two levels.

Also 1000$ can be 'easily'  spent, can be a part a your wages, but 10000 $ it too much.

I don't really understand your comment? Explain please.

[quantumflow]

Depends on if Chinese government allow Yuan to trade freely.  lol!

[Roel Delicatessen]

Bitcoin will increase in value indefinitely. Just like the dollar will decrease in value indefinitely. Not over night. But day after day. As development continues I think we will get personalized bitcoin wallets next to anonymous wallets. Maybe regular banks will facilitate secure wallets.